MIRA INFORM REPORT

Report Date :

16.11.2013

IDENTIFICATION DETAILS

Name :	SANVIJAY ROLLING AND ENGINEERING LIMITED (w.e.f 19.05.2000)
Formerly Known As :	SANVIJAY RE-ROLLING AND ENGINEERING WORKS LIMITED (w.e.f 18.06.1996) SANVIJAY RE-ROLLING AND ENGINEERING WORKS PRIVATE LIMITED
Registered Office :	9, Immamwada Road, Nagpur – 440018, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	16.10.1987
Com. Reg. No.:	11-045013
Capital Investment / Paid-up Capital :	Rs. 50.000 Millions
CIN No.: [Company Identification No.]	U27100MH1987PLC045013
TAN No.: [Tax Deduction & Collection Account No.]	NGPS00313F
PAN No.: [Permanent Account No.]	AACCS0217J
Legal Form :	A Closely Held Public Limited Liability Company
Line of Business :	Manufacturing and Trading of Iron and Steel items.
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba (45)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 14000000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having a satisfactory track record. There appears dip in profit of the company. However, overall financial position of the company appears to be decent. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. The company can be considered for business dealing at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

INDIAN ECONOMIC OVERVIEW

The current downturn provides an opportunity to push ahead with reforms to accelerate growth, says the latest India Development Update report released by the World Bank. The report says that the adverse effects of rupee depreciation are likely to be offset by the gains in the exports performance due to improved external competitiveness. Since May this year, the local currency has depreciated substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.

A stagflation like situation appears to have arisen as inflation jumped to an eight month high of 6.46 % for the month of September. It is up from 6.10 % in August. Growth continues to be muted with factory output plunging to 0.6 % in August. Onion prices have risen nearly 300 % from last September. Vegetables cost nearly 90 % more than they did last year. Wake up to the economic contribution of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic product, according to a recent study conducted in 50 top cities.

136000 estimated number of jobs created during the second quarter of the current financial year. 50000 estimated number of additional jobs in the field of corporate social responsibility in the coming years.

The International Finance Corporation expects to come out with its rupee linked bonds issue before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched in India from 1^st November.

The Land Acquisition Act to provide just and fair compensation to farmers will come into force from January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a 119 year old registration. The Securities and Exchange Board of India has approved the trading of currency futures on the Bombay Stock Exchange. The exchange plans to launch the currency futures platform with advanced trading technology by the end of November.

EXTERNAL AGENCY RATING

Rating Agency Name	CARE
Rating	Long term rating: BBB
Rating Explanation	Have moderate degree of safety and carry moderate credit risk.
Date	April 2013

Rating Agency Name	CARE
Rating	Short term rating: A3+
Rating Explanation	Have moderate degree of safety and carry higher credit risk.
Date	April 2013

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2012.

LOCATIONS

Registered Office :	9, Immamwada Road, Nagpur – 440018, Maharashtra, India
Tel. No.:	91-712-2729130/ 136
Fax No.:	91-712-2720716/ 2723799
E-Mail :	cs@sanvijay.com steel@sanvijay.com
Website :	http://www.sanvijay.com

Note: Six manufacturing facilities located in industrial areas of Butibori and Hingna, Nagpur.

DIRECTORS

As on: 29.09.2012

Name :

Mr. Sanjay Puranlal Agrawal

Designation :

Whole Time Director

Address :

26, Bhagwaghar Layout, Dharampeth, Nagpur – 440010, Maharashtra, India

Date of Birth/Age :

26.07.1966

Qualification :

B. Com

Date of Appointment :

16.02.2003

PAN No.:

ABUPA3463G

DIN No.:

00308722

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U70101MH1992PTC067892	LOSSY ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	15/07/1999	15/07/1999	-	Active	NO
2	U72220MH2000PTC124023	MACROSOFT INFOTECH AND SYSTEMS PRIVATE LIMITED	Director	03/02/2000	03/02/2000	-	Active	NO
3	U45208MH1980PTC022816	SUNRISE STRUCTURALS AND ENGINEERING PRIVATE LIMITED	Director	14/08/2000	14/08/2000	-	Active	NO
4	U45209MH1995PTC094474	SANVIJAY AUTO ENGINEERING PRIVATE LIMITED	Director	01/01/2002	01/01/2002	-	Active	NO
5	U27100MH1988PTC046143	DIU ISPAT UDYOG PRIVATE LIMITED	Director	10/12/2002	10/12/2002	-	Active	NO
6	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Whole-time director	16/02/2003	16/02/2003	-	Active	NO
7	U45201MH2006PLC165768	CHHINDWARA PLUS DEVELOPERS LIMITED	Director	24/11/2006	24/11/2006	-	Active	NO
8	U74899MH1994PTC193861	PROGRESSIVE CASTINGS PRIVATE LIMITED	Director	29/09/2007	28/06/2007	05/12/2011	Active	NO
9	U27101MH2005PTC229064	SATYA SHYAM STEELS PRIVATE LIMITED	Director	30/09/2008	10/03/2008	-	Active	NO
10	U24239MH2009NPL189289	APPLE MEDICARE	Director	01/01/2009	01/01/2009	-	Active	NO
11	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Managing director	28/01/2010	20/01/2009	-	Active	NO
12	U70101MH2006PTC161848	LALITAMBIKA BUILDERS AND DEVELOPERS PRIVATE LIMITED	Additional director	15/04/2009	15/04/2009	-	Active	NO
13	U01403MH2007PTC168270	MAHALAXMI AGRO AND LAND DEVELOPERS PRIVATE LIMITED	Additional director	15/04/2009	15/04/2009	-	Active	NO
14	U27106MH2007PLC176783	SOMU STEEL AND POWER LIMITED	Director	30/09/2009	01/06/2009	-	Active	NO
15	U51109WB1995PTC069876	MAHAK TRACON RIVATE LIMITED	Director	30/09/2009	24/06/2009	05/11/2012	Active	NO
16	U10100MH2008PTC186624	MAHARASHTRA COAL COMPANY PRIVATE LIMITED	Director	30/09/2010	27/11/2009	-	Active	NO
17	U30007MH1990PLC056918	LIBERTY COMPUTER STATIONERY LIMITED	Additional director	15/12/2009	15/12/2009	30/09/2010	Active	NO
18	U28920MH1982PTC029004	PRAKASH TRADERS PRIVATE LIMITED	Additional director	15/12/2009	15/12/2009	30/09/2010	Active	NO
19	U51909WB2007PTC114541	BASUKINATH SALES PRIVATE LIMITED	Director	30/09/2010	01/04/2010	05/11/2012	Active	NO
20	U51909WB2007PTC114636	DAMODAR VINIMAY PRIVATE LIMITED	Director	30/09/2010	01/04/2010	05/11/2012	Active	NO
21	U51109WB2007PTC114468	BASUDEO VYAPAAR PRIVATE LIMITED	Director	30/09/2010	01/04/2010	05/11/2012	Active	NO
22	U65993WB1977PTC031098	BOHRA AND COMPANY PRIVATE LIMITED	Director	30/09/2010	18/06/2010	05/11/2012	Active	NO
23	U51109WB1996PTC078080	VASUNDHARA COMMODITIES PRIVATE LIMITED	Director	30/09/2010	25/06/2010	05/11/2012	Active	NO
24	U74900MH2009PTC195711	EXPLO-TECH CONSULTING PRIVATE LIMITED	Director	26/09/2011	05/01/2011	-	Active	NO
25	U27310MH2012PTC230428	SANVIJAY ENGINEERING AND STRUCTURES PRIVATE LIMITED	Director	30/04/2012	30/04/2012	-	Active	NO
26	U93000MH2013PTC246368	BUTIBORI MANUFACTURERS TECHNOLOGY CLUSTER PRIVATE LIMITED	Director	30/07/2013	30/07/2013	-	Active	NO

Name :

Mr. Ajay Puranlal Agrawal

Designation :

Whole Time Director

Address :

12, Daga Layout, NA Road, Nagpur – 440010, Maharashtra, India

Date of Birth/Age :

12.11.1979

Qualification :

B. Tech

Date of Appointment :

03.03.2004

PAN No.:

ABUPA3426F

DIN No.:

00084840

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27100MH1988PTC046143	DIU ISPAT UDYOG PRIVATE LIMITED	Director	10/01/1998	10/01/1998	-	Active	NO
2	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Whole-time director	03/03/2004	03/03/2004	-	Active	NO
3	U27101MH2005PTC229064	SATYA SHYAM STEELS PRIVATE LIMITED	Director	30/09/2008	10/03/2008	-	Active	NO
4	U74899MH1994PTC193861	PROGRESSIVE CASTINGS PRIVATE LIMITED	Director	30/06/2008	30/06/2008	20/04/2012	Active	NO
5	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Director	28/01/2010	20/01/2009	-	Active	NO
6	U27106MH2007PLC176783	SOMU STEEL AND POWER LIMITED	Director	30/09/2009	01/06/2009	-	Active	NO
7	U51109WB1995PTC069876	MAHAK TRACON PRIVATE LIMITED	Director	30/09/2009	24/06/2009	-	Active	NO
8	U70101MH1992PTC067892	LOSSY ESTATES AND INVESTMENTS PRIVATE LIMITED	Director	30/09/2010	20/10/2009	-	Active	NO
9	U45209MH1995PTC094474	SANVIJAY AUTO ENGINEERING PRIVATE LIMITED	Director	29/09/2012	15/12/2009	-	Active	NO
10	U51909WB2007PTC114636	DAMODAR VINIMAY PRIVATE LIMITED	Director	30/09/2010	01/04/2010	-	Active	NO
11	U51909WB2007PTC114541	BASUKINATH SALES PRIVATE LIMITED	Director	30/09/2010	01/04/2010	-	Active	NO
12	U51109WB2007PTC114468	BASUDEO VYAPAAR PRIVATE LIMITED	Director	30/09/2010	01/04/2010	-	Active	NO
13	U28920MH1982PTC029004	PRAKASH TRADERS PRIVATE LIMITED	Additional director	24/11/2011	24/11/2011	15/03/2012	Active	NO
14	U30007MH1990PLC056918	LIBERTY COMPUTER STATIONERY LIMITED	Director	29/09/2012	24/11/2011	-	Active	NO
15	U45208MH1980PTC022816	SUNRISE STRUCTURALS AND ENGINEERING PRIVATE LIMITED	Director	29/09/2012	24/11/2011	-	Active	NO
16	U65993WB1977PTC031098	BOHRA AND COMPANY PRIVATE LIMITED	Additional director	05/11/2012	05/11/2012	-	Active	NO
17	U51109WB1996PTC078080	VASUNDHARA COMMODITIES PRIVATE LIMITED	Additional director	05/11/2012	05/11/2012	-	Active	NO

Name :

Mr. Shrikant Agrawal

Designation :

Director

Address :

26, Hindustan Colony, Amravati Road, Nagpur – 440033, Maharashtra, India

Date of Birth/Age :

10.10.1960

Date of Appointment :

30.09.2009

PAN No.:

AIAPA5762B

DIN No.:

02446283

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U74140MH2002PTC137501	NEO VISION HOMECARE SERVICES PRIVATE LIMITED	Director	24/02/2004	24/02/2004	-	Active	YES
2	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Director	30/09/2009	23/02/2009	-	Active	NO
3	U21000MH2010PTC209901	SHRIDUTTA KRUPA PACKAGING PRIVATE LIMITED	Director	09/11/2010	09/11/2010	-	Active	NO

Name :

Mr. Purushottam Hastimal Purohit

Designation :

Director

Address :

141A Sharda Niwas, Ramsumerbabanagar, Kawlapeth, Nagpur – 440008, Maharashtra, India

Date of Birth/Age :

14.05.1953

Date of Appointment :

30.09.2009

PAN No.:

ABAPP9690G

DIN No.:

02563591

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U27100MH1987PLC045013	SANVIJAY ROLLING AND ENGINEERING LIMITED	Director	30/09/2009	27/02/2009	-	Active	NO
2	U27100MH2003PLC141810	GRACE INDUSTRIES LIMITED	Director	28/01/2010	24/11/2009	-	Active	NO

KEY EXECUTIVES

Name :	Mrs. Shalini Nautiyal
Designation :	Secretary
Address :	203 “A Wing, K C Apartment, Manjidana Colony, Gatikhadan Katol Road, Nagpur – 440013, Maharashtra, India
Date of Birth/Age :	26.07.1982
Date of Appointment :	01.07.2011
PAN No.:	AKRPN6236C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 29.09.2012

Names of Shareholders	No. of Shares
Sanjay Puranlal Agrawal	110970
Sitadevi Puranlal Agrawal	73960
Kavita Sanjay Agrawal	89170
Ajay Puranlal Agrawal	63750
Saurabh Sanjay Agrawal	123750
Damodar Vinimay Private Limited, India	7725
Basukinath Sales Private Limited, India	15525
Basudeo Vyapar Private Limited, India	15150
Total	500000

Equity Share Break up (Percentage of Total Equity)

As on: 29.09.2012

Category	Percentage
Bodies corporate	8.00
Directors or relatives of directors	92.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing and Trading of Iron and Steel items.

Products :

ITC Code	Product Descriptions
72165000	Colf form or cold finished
72111410	Other, of a thickness of 475 mm
72149990	Others
73051129	Longitudinally submerged arc welded
73181500	screw and bolts
72071990	Others

PRODUCTION STATUS AS ON (31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
Rolled Steel Product	M.T.	NA	379500	230469.878 **
Steel Semis	M.T.	NA	100000 *	23882.780
Stainless Steel	M.T.	NA	--	0.000
Welded Pipe	M.T.	NA	--	72.230

* Considering capacity of 3 furnaces out of which power connection has been obtained for 1 furnace having capacity of 36000 MT p.a.

**Excluding conversion quantity of 45940.111 MT and production done for outsiders 81.561 MT as job work by the company.

GENERAL INFORMATION

Customers :

Transmission Sector

• Jyoti Structures Limited
• Bajaj
• Unitech
• Shirke Group of Company
• TATA
• Telecom
• Emco Inspired by tomorrow

Communication Sector

• Reliance
• Airtel
• Aster Dependable Services

Non Conventional Sector

• Suzlon Powering A Greener Tomorrow
• Vestas

Overseas Customers

• Zamil Steel
• Hidada

No. of Employees :

Not Available

Bankers :

• UCO Bank, Itwari Branch, Salasar Plaza, Post Office Road, Gandhibag, Nagpur - 440002, Maharashtra, India

• ICICI Bank Limited, Zenith House, Mahalaxmi, Mumbai – 400034, Maharashtra, India

• State Bank of India, Kingsway, Nagpur, Maharashtra, India

• ING – Vysya Bank Limited, 22, M G Road, Bangalore, Karnataka, India

• The Lakshmi Vilas Bank Limited, Nagpur, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Long term borrowings
Rupees term loans from banks	10.676	0.341
Short term borrowings
Working capital loans from banks	3032.311	2821.926
Other loans and advance, others	0.000	450.000
Total	3042.987	3272.267

Banking Relations :	--
Auditors :
Name :	Gupta Sarda and Bagdia Chartered Accountants
Address :	6-Farmland Central Bazar Road, Nagpur, Maharashtra, India
PAN No.:	AAAFG8821D
Enterprises over which Key Management	Ø Sunrise Structural and Engineering Private Limited [U45208MH1980PTC022816] Ø Diu Ispat Udyog Private Limited [U27100MH1988PTC046143] Ø Liberty Computer and Stationary Limited [U30007MH1990PLC056918] Ø Sanvijay Auto Engineering Private Limited [U45209MH1995PTC094474] Ø Prograssive Casting Private Limited [U74899MH1994PTC193861] Ø Somu Steel and Power Limited Ø Prakash Traders Private Limited Ø Satya Shyam Steels Private Limited [U27101CT2005PTC017500]
Subsidiaries :	Ø Grace Industries Limited [U27100MH2003PLC141810] Ø Maharashtra Coal Company Private Limited [U10100MH2008PTC186624]
Others :	Ø Prakash Traders
Group Companies :	Ø Sanvijay Steel Private Limited Ø Sanvijay Alloys Private Limited Ø Prakash Ispat Udyog Ø Sanvijay Industries Private Limited

CAPITAL STRUCTURE

As on: 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
1000000	Equity Shares	Rs.100/- each	Rs. 100.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
500000	Equity Shares	Rs.100/- each	Rs. 50.000 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	50.000	50.000
(b) Reserves & Surplus	3518.702	3266.813
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	300.000
Total Shareholders’ Funds (1) + (2)	3568.702	3616.813
(3) Non-Current Liabilities
(a) long-term borrowings	622.432	650.443
(b) Deferred tax liabilities (Net)	224.684	210.288
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.000	0.000
Total Non-current Liabilities (3)	847.116	860.731
(4) Current Liabilities
(a) Short term borrowings	3142.810	3274.830
(b) Trade payables	307.922	263.562
(c) Other current liabilities	307.329	524.754
(d) Short-term provisions	0.168	0.136
Total Current Liabilities (4)	3758.229	4063.282
TOTAL	8174.047	8540.826
ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	1373.527	1330.108
(ii) Intangible Assets	2.481	2.636
(iii) Capital work-in-progress	31.671	29.837
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	251.609	251.479
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	668.447	645.810
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	2327.735	2259.870
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	2883.923	3080.646
(c) Trade receivables	1407.776	1929.417
(d) Cash and cash equivalents	79.761	57.604
(e) Short-term loans and advances	1474.852	1213.289
(f) Other current assets	0.000	0.000
Total Current Assets	5846.312	6280.956
TOTAL	8174.047	8540.826

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		50.000
2] Share Application Money		300.000
3] Reserves & Surplus		2780.227
4] (Accumulated Losses)		0.000
NETWORTH		3130.227
LOAN FUNDS
1] Secured Loans		4130.518
2] Unsecured Loans		741.368
TOTAL BORROWING		4871.886
DEFERRED TAX LIABILITIES		204.986
TOTAL		8207.099
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1351.190
Capital work-in-progress		1.953
INVESTMENT		450.870
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	3199.950
	Sundry Debtors	1440.636
	Cash & Bank Balances	934.121
	Other Current Assets	0.000
	Loans & Advances	1994.872
Total Current Assets		7569.579
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	248.694
	Other Current Liabilities	653.713
	Provisions	264.086
Total Current Liabilities		1166.493
Net Current Assets		6403.086
MISCELLANEOUS EXPENSES		0.000
TOTAL		8207.099

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income	10552.973	10371.398	9887.309
		Other Income	33.296	31.831	229.802
		TOTAL (A)	10586.269	10403.229	10117.111
Less	EXPENSES
		Cost of material consumed	7380.277	7010.226
		Purchase of stock in trade	1231.005	677.128
		Changes in inventories of finished goods, work in progress and stock in trade	(24.477)	306.341
		Employee benefit expenses	141.877	130.267
		Other expenses	1121.995	1115.773
		Prior period items before tax	2.460	2.645
		Exceptional items before tax	(47.287)	0.000
		TOTAL (B)	9805.850	9242.380	8913.905
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		780.419	1160.849	1203.206
Less	FINANCIAL EXPENSES (D)		426.019	390.595	329.053
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		354.400	770.254	874.153
Less/ Add	DEPRECIATION/ AMORTISATION (F)		118.141	115.173	109.826
	PROFIT BEFORE TAX (E-F) (G)		236.259	655.081	764.327
Less	TAX (H)		73.484	168.494	350.502
	PROFIT AFTER TAX (G-H) (I)		162.775	486.587	413.825
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		2176.709	1840.122	1585.072
Less	APPROPRIATIONS		150.000	150.000	158.775
	BALANCE CARRIED TO THE B/S		2189.484	2176.709	1840.122
	EARNINGS IN FOREIGN CURRENCY
		Export Earnings	NA	8.002	7.985
	TOTAL EARNINGS		NA	8.002	7.985
	IMPORTS
		Raw Materials	NA	NA	132.474
		Consumable	NA	NA	0.353
	TOTAL IMPORTS		NA	NA	132.827
	Earnings Per Share (Rs.)		325.55	973.17	827.65

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	1.53	4.68	4.10
Net Profit Margin (PBT/Sales)	(%)	2.23	6.31	7.73
Return on Total Assets (PBT/Total Assets}	(%)	2.99	7.93	8.57
Return on Investment (ROI) (PBT/Networth)		0.07	0.18	0.25
Debt Equity Ratio (Total Debt/Networth)		1.06	1.09	1.56
Current Ratio (Current Asset/Current Liability)		1.56	1.55	6.49

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check List by Info Agents	Available in Report (Yes / No)
1]	Year of Establishment	Yes
2]	Locality of the firm	Yes
3]	Constitutions of the firm	Yes
4]	Premises details	No
5]	Type of Business	Yes
6]	Line of Business	Yes
7]	Promoter's background	Yes
8]	No. of employees	No
9]	Name of person contacted	No
10]	Designation of contact person	No
11]	Turnover of firm for last three years	Yes
12]	Profitability for last three years	Yes
13]	Reasons for variation <> 20%	--
14]	Estimation for coming financial year	No
15]	Capital in the business	Yes
16]	Details of sister concerns	Yes
17]	Major suppliers	No
18]	Major customers	Yes
19]	Payments terms	No
20]	Export / Import details (if applicable)	No
21]	Market information	--
22]	Litigations that the firm / promoter involved in	--
23]	Banking Details	Yes
24]	Banking facility details	Yes
25]	Conduct of the banking account	--
26]	Buyer visit details	--
27]	Financials, if provided	Yes
28]	Incorporation details, if applicable	Yes
29]	Last accounts filed at ROC	Yes
30]	Major Shareholders, if available	Yes
31]	Date of Birth of Proprietor/Partner/Director, if available	Yes
32]	PAN of Proprietor/Partner/Director, if available	Yes
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	Yes

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
Long term borrowings
Deferred payment liabilities	111.266	101.738
Loans and advance from directors	425.442	448.740
Loans and advance from others	59.106	66.683
Other loans and advance	15.941	32.941
Short term borrowings
Other loans and advance, others	110.500	0.000
Loans and advance from directors	0.000	2.904
Total	722.255	653.006

INDEX OF CHARGES

S.No.	Charge ID	Date of Charge Creation/Modification	Charge amount secured	Charge Holder	Address	Service Request Number (SRN)
1	10003936	25/02/2011 *	3,450,000,000.00	UCO BANK	ITWARI BRANCH, SALASAR PLAZA, POST OFFICE ROAD, G  ANDHIBAG, NAGPUR, Maharashtra - 440002, INDIA	B07544802
2	90236445	25/02/2011 *	3,450,000,000.00	UCO BANK	ITWARI BRANCH, SALASAR PLAZA, POST OFFICE ROAD, G  ANDHIBAG, NAGPUR, Maharashtra - 440010, INDIA	B07544414

* Date of charge modification

FIXED ASSETS:

• Land
• Shed and Building
• Plant and Machinery
• Electrical Installation
• Laboratory and Testing Equipments
• Rolls
• Generator
• Computers
• Furniture and Fixture
• Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs. 63.06
UK Pound	1	Rs. 101.15
Euro	1	Rs. 84.95

INFORMATION DETAILS

Report Prepared by :

DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.